- After two months of dormancy, a whale moved 30 BTC to a Binance-linked address, triggering fresh sell-side speculation.
- MicroStrategy, Semler, and KULR acquired over $200M in BTC during the same week, signaling sustained institutional demand.
- Bitcoin held above $94K despite whale movement, as corporate buyers absorbed supply during a $10K rally from April 21 to May 2.
A major Bitcoin whale known as “2020WHALE” executed a high-value transfer of $2.8 million BTC to an address associated with Binance on May 6, 2025. This marked the entity’s first on-chain action in two months.
Arkham Flags Suspicious Whale Movement
The transaction totaled 8,368.8798659 BTC, with $786.14 million sent to a secondary 2020WHALE-linked address and $2.83 million routed elsewhere. In a post by Arkham, analysts noted that 30 BTC moved to address 38MSCPU…, which regularly deposits Bitcoin to Binance. The transaction was recorded in Bitcoin block 895531 and carried a nominal fee of just $0.35.
The sending wallet (3Jfjv) had previously accumulated BTC through large inflows from other whale-controlled wallets. The receiving wallets, including (38MSC), have remained unspent, indicating the BTC has not yet re-entered market circulation. That said, the involvement of a Binance-associated destination has fueled speculation of a potential sell-side move.
Whale Activity Coincides with Corporate Accumulation
According to reports in SEC 8-K disclosures, corporate entities also added significant BTC during the same window. MicroStrategy acquired 1,895 BTC for $180.3 million at an average price of $95,167 between April 28 and May 4. Semler Scientific announced a $16.2 million purchase of 167 BTC, averaging $97,093.
This change has led to significant outcomes in BTC price stabilization above $94,000 during early May. KULR Technology also revealed it acquired 42 BTC at $94,403 and now holds 716.2 BTC worth $69 million. The collective institutional inflow suggests upward price support even as whale addresses re-engage.
Price Movement Tracks Whale and Institutional Signals
Between March 17 and May 5, Bitcoin fluctuated from a low near $75,000 to a local high over $95,000. The rally gained momentum from April 21 onward, rising nearly $10,000 in one week amid volume spikes and renewed demand. The price peaked above $95,000 on May 2, followed by a period of sideways consolidation.
This shift in direction has important implications for traders monitoring on-chain indicators and corporate disclosures. Whale movement toward exchanges combined with institutional accumulation underscores a battle between distribution and long-term holding. Bitcoin traded at $94,274 at the time of the 2020WHALE transfer, holding support despite the sell-side signal.
